BIHL leverages data, AI

According to the group’s 2022 annual report released last week, BIHL views data as “the new oil” and insurers have reservoirs of assets that can be turned into business value that will affect the bottom line.

A trend research report by the group shows that human interaction will remain pivotal in the future, but advisors will be supported with data and artificial intelligence to deliver personalised insights with a human touch. The report says back-end processes will be automated, and AI will kick off processes based on predictions even before a human trigger.